Hinge Health Inc. (NYSE:HNGE – Get Free Report) Chairman Gabriel Mecklenburg sold 200,000 shares of Hinge Health stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $103.13, for a total transaction of $20,626,000.00. Following the completion of the sale, the chairman owned 200,000 shares in the company, valued at approximately $20,626,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Gabriel M.I. Mecklenburg also recently made the following trade(s):
- On Monday, September 14th, Gabriel Mecklenburg sold 150,000 shares of Hinge Health stock. The shares were sold at an average price of $93.22, for a total transaction of $13,983,000.00.
- On Friday, September 11th, Gabriel Mecklenburg sold 250,000 shares of Hinge Health stock. The stock was sold at an average price of $88.97, for a total transaction of $22,242,500.00.
Hinge Health Stock Performance
Shares of NYSE:HNGE traded up $0.28 during trading hours on Tuesday, hitting $105.10. The stock had a trading volume of 879,561 shares, compared to its average volume of 1,595,888. The stock’s fifty day simple moving average is $91.79 and its 200 day simple moving average is $71.86. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $107.00. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 82.11 and a beta of 1.37.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. 11.2 Capital Management LLC bought a new position in shares of Hinge Health during the 2nd quarter valued at about $204,566,531. Arrowstreet Capital Limited Partnership grew its stake in shares of Hinge Health by 225.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock worth $44,852,000 after purchasing an additional 806,007 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Hinge Health by 169.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock worth $100,063,000 after purchasing an additional 758,594 shares in the last quarter. Alkeon Capital Management LLC raised its holdings in shares of Hinge Health by 110.4% in the 4th quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock worth $36,747,000 after purchasing an additional 415,093 shares in the last quarter. Finally, Estuary Capital Management LP bought a new stake in shares of Hinge Health in the 1st quarter worth approximately $15,201,000.
Analyst Ratings Changes
Several analysts have weighed in on HNGE shares. Weiss Ratings downgraded Hinge Health from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. Canaccord Genuity Group set a $105.00 price target on Hinge Health in a research note on Wednesday, August 5th. KeyCorp raised their price target on Hinge Health from $90.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Wells Fargo & Company raised their price target on Hinge Health from $90.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Truist Financial lifted their price objective on shares of Hinge Health from $85.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $106.00.
About Hinge Health
Hinge Health, Inc is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care designed to help members manage pain, improve mobility and avoid or delay more invasive treatments.
Its platform combines a mobile application, motion-sensing technology, personalized exercise therapy, education and support from a care team that may include clinical specialists. Hinge Health offers programs for conditions such as chronic back pain, knee pain and other common MSK issues, with services generally provided through employers, health plans and other healthcare organizations.
Hinge Health was founded in 2015 and is headquartered in San Francisco, California.
Featured Stories
- Five stocks we like better than Hinge Health
- A Chinese Rival Just Spooked Memory Stocks—How Worried Should Micron Investors Be?
- Could T-Mobile’s Satellite Competition Fears Create a Buying Opportunity?
- Surgical Precision, Sustainable Returns: Johnson & Johnson Secures Its Cash Flow Runway
- Tesla’s Robotaxi Lands in Paris—But Europe’s Real Fight Is Over Cheap EVs
Receive News & Ratings for Hinge Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hinge Health and related companies with MarketBeat.com's FREE daily email newsletter.
